Quick facts: Richmond, TX

Quick Facts

95.2
Cost of Living
below US average
12,520
Population
26.12
Crime Rate per 1000
above US average
$51,832
Median Income
below US average
$393,000
Median House Price
above US average
$2452.28
Average Rent
above US average
9%
Poverty Rate
below US average
4.6%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $51,832.

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Income Needed to Buy

βœ— Stretch
$123k/year
Based on $393,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $123k vs median $51,832
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Income Needed to Rent

⚠ Stretch
$105k/year
Based on $2452.28/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $105k vs median $51,832
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Richmond, TX

Richmond, Texas, is a vibrant city located in fort Bend County, southwest of Houston. Established in the early 19th century, Richmond offers a blend of historical charm and modern convenience. The city is known for its picturesque landscapes, with numerous parks and green spaces, including the expansive Brazos Bend State Park nearby, which is perfect for outdoor enthusiasts. Richmond's historic downtown area features beautifully preserved buildings, charming shops, and local eateries, providing a glimpse into its rich heritage. Community events, such as the annual Fort Bend County Fair, showcase local culture and arts. The city boasts a diverse population and a growing economy, with opportunities in various sectors such as retail, healthcare, and education. The public schools are part of the Fort Bend Independent School District, known for its quality education. Richmond is also conveniently located near major highways, making it easy to access Houston and its vibrant metropolitan amenities, including world-class dining, shopping, and entertainment options. Overall, Richmond combines small-town charm with easy access to the bustling life of a big city.

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